Target-Market Selection Research Proposal Example | Topics and Well Written Essays - 1250 words

Target-Market Selection - Research Proposal Example If the company does not pay enough attention in order to discern its exact target market, it could land up in trouble at the time of devising its marketing strategy since it would address a completely unknown marketing segment, one which was not asked for by the product’s target domains. Thus it is essential that the target market is selected in a proper manner as falling short on the same count could lead to wastage which no organization is willing to afford. Wastage can also happen if the secondary audience, one that is not exactly the audience for the said product is catered to the product and its message and thus there is a complete mix-up within the related ranks. (2) Beyond evaluating current businesses, designing the business portfolio involves finding businesses and products the company should consider in the future. Using the product-market expansion grid, illustrate the process that a company can use to evaluate a portfolio. Pick an example for your demonstration that is different from the one used in the text. Be sure your example covers all cells. The product-market expansion grid of Ansoff is basically a model that is useful in demonstrating a clear link between the different processes of the business unit strategy so that there is a clear cut identification of the growth opportunities for the business. Since this grid looks at product and market in different alignments, a company can analyze a portfolio by touching the method for market penetration where it could sell the product in an excessive manner by making it available in a wholesome quantity.